BridgeBio Prices Offering of $550 Million Convertible Senior Notes due 2033 to Prefund Repayment of Convertible Senior Notes due 2027

Core Viewpoint - BridgeBio Pharma, Inc. has announced the pricing of $550 million in 0.75% convertible senior notes due 2033, aimed at raising funds for various corporate purposes, including repurchasing existing convertible notes and shares [1][3][8]. Group 1: Offering Details - The offering consists of $550 million aggregate principal amount of 0.75% convertible senior notes, with an option for initial purchasers to buy an additional $82.5 million [1][2]. - The expected net proceeds from the sale are approximately $538.4 million, or $619.3 million if the option is fully exercised [2]. - The notes will bear interest at a rate of 0.75% per year, payable semi-annually, and will mature on February 1, 2033 [5][8]. Group 2: Use of Proceeds - The net proceeds will be used to repurchase or settle obligations related to the Company's 2.50% convertible senior notes due 2027 and for general corporate purposes [3]. - Approximately $82.5 million of cash on hand will be used to repurchase about 1.1 million shares of common stock from certain purchasers of the notes [4]. Group 3: Conversion and Redemption Terms - The initial conversion rate is set at 9.0435 shares per $1,000 principal amount of notes, equating to an initial conversion price of approximately $110.58 per share, representing a 45% premium over the last reported sale price of $76.26 [6][8]. - The Company may redeem the notes starting February 6, 2030, under certain conditions, at a redemption price equal to 100% of the principal amount plus accrued interest [7][10]. Group 4: Company Overview - BridgeBio Pharma is focused on developing transformative medicines for genetic diseases, with a pipeline that includes early science to advanced clinical trials [13].